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>>. >> neil: do you want to know why our debt is a problem? maybe because the guy in charge of the country doesn't think it is a problem. welcome, i'm neil cavuto and why over $16 trillion in debt when president obama doesn't appear to be hitting the panic button. >> we don't have an immediate crisis in terms of debt. in fact for the next ten years, it's going to be in a sustainable place. >> neil: wait a minute. if he is not worrying, is it any wonder that senate democrats want to keep on spending? after waiting nearly four years to cook up a budget, a blueprint that leads taxpayers cooked, try
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$2 trillion in more debt over the next ten years. feeling kind of well done? how about just done? charles payne and dagen and adam and charlie gasparino. first, charles payne -- he has to wake up. [ laughter ] >> neil: all right. what do you make of this and all of a sudden, you can do this thing, divide the problem and the problem goes away. i don't think in this case it goes away. >> i have to tell you, when george stephanopolous interview, i wanted to scream. i wanted to cry and i -- i wasn't. >> neil: it was it george stephanopolous. >> i'm not sure because i was the same way with dennis rodman.
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[ laughter ] >> but there is obviously a disconnect. the disingenuous of the whole thing. keep saying, if we don't figure out a way to shuffle out trillions of dollars in economy to fight global warming because it's going to get one degree warmer in the hundred years, we shouldn't worry about the deficit that never stops. it is a crisis and immediate crisis and should be honest about that. >> neil: dagen, he was saying in and of itself a balanced budget isn't the goal. it's getting to that but not at the expense of blah, blah. but in saying that spending not a problem and harry reid said don't touch entitlements and nancy pelosi don't raise the medicare retirement age and we don't have a spending problem either, i put a lot of that
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together. >> right. my favorite little gift of the president was $100 billion in the budget and they don't say freely raising new revenues through taxes in this budget. it's about $1.5 trillion in new tax revenue on top of the $600 billion in higher taxes earlier this year. that is on top of the more than $1 trillion in obamacare taxes. >> neil: and that doesn't balance anything? >> this is blueprint for what the president wants and what all democrats want, that higher taxes, more taxes and they are going to spend until the bond market says, hold it. you can't spend. >> neil: what do you think? >> i just think it's fascinating you put a time stamp on this. like ten years, it's way out there in the future. ten years comes pretty quick. what is scary about this the
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media let them get away with it. obama sounds smart but when you strip down what he says, it's actually pretty stupid. there is rationality we can still set sel our debt because everyplace else is screwed up but to suggest ten years we're going to have a problem and that is not coming in relative terms tomorrow is stupid. you want to give the president respect, but his statement was stupid. >> neil: adam, you agree with that, i guess? >> actually i don't. i don't think that calling the president stupid. >> his statement, let me tell you, don't put words in my mouth. i was talking about his statement. >> neil: let him answer. >> he said and i think rightly so, we shouldn't get so concerned we have a problem tomorrow that we do something stupid. instead he is saying, of course,
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i agree and understand we need to get this under control and we have time to do that. by the way, there is a difference between saying that the senate democratic budget calls increased spending which we are flashing on the screen which not attacking the debt problem which is not true because they project it will reduce the debt. i don't think we are as far apart. >> the democrats and republicans in congress are as far apart as we are making it out to be. coming ryan's budget calls for tax increases. >> how do you know it hits the fan in ten years? how do you know that prediction? >> you are talking about a time stamp. >> how do you know ten years, five years that that wall street and the global financial community is going to stop buying our debt. >> neil: you are asking a circular question.
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the issue more to the point to me, really does seem to be saying, i don't want to do anything to risk overdo it what europe has done and cut their way into austerity. i like to remind people that are afraid of overcutting, need not worry, we aren't doing anything approaching anything close to that. if you are concerned all of a sudden we're going to be greece, you don't have to worry. >> by the way, they used term austerity to describe what they are trying to do in europe, most part its higher taxes. >> neil: and a lot of austerity are slowing growth. >> so austerity doesn't work, you are essentially saying higher taxes don't work. >> and obama is all four austerity. she raising taxes. he is raising texas on small businesses. he raised taxes on every single
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american. this man, this president is for austerity. >> he is very smart man and he is merely echoing -- charlie did not say the president was stupid. charlie said that the statement was stupid. i usually want to smack charlie in the mouth. my point is that president is echoing what the american people feel. what is possible to them is extremely low interest rates, long term rates. you can borrow money to buy a house that most people have not seen in their lifetime and there is not a lot of inflation except for gasoline. she playing into that hand, we don't need that right now. >> i'm glad you brought that up. very few people feel that way, but people that know better including the president, what he is actually saying, someone that goes to the doctor and doctor says you may have cancer. what you do go home instead of
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one pack of cigarettes, you smoke two, it may be lung cancer for a while and let me get it in. that is the analogy. >> do you remember the last great economic prediction before this ten-year nonsense? that the stimulus plan could stop unemployment and we would have 5% unemployment. now it's ten years.... >> why is wall street racing to it. >> when you take interest rates to zero. >> neil: why didn't it happen before? >> what do you mean? i don't understand. >> we've had very low rates. why is it a fix? >> the dow has gone from six to 15. >> neil: the white house is
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arguing -- hear me out. if we are so stupid or the way we say things are stupid, fine. then why the market doing well? >> you take interest rates to zero, you reduce bond yields to almost nothing, anybody with half a brain and dollar. >>. >> neil: wall street must have half a brain. >> bevts are buying stocks. >> you are basically buying a stake in the american economy. >> commodities, gasoline. >> neil: when we come back, you must be doing something right when you killing off the stars, american oil production... [ kate ] many women may not be absorbing the calcium they take
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headquarters i'm arthel nevil. live looking at cpac, they will release of their stlua polls to see show who these conservatives want in the white house. they are looking at the front paul, rand paul, congressman ryan and marco rubio and scott walker, also raising eyebrows, favorite neurosurgeon ben carson who jokingly hinted at a possible white house run himself. >> let's say you magically put me into the white house. [ cheers and applause ] i'm arthel nevil and back with the straw poll results. right now get you back to cavuto on business. see you soon. >> neil: welcome back. demand for oil is going down as
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america's production of shale oil keeps going up. connection? >> it has yoko saying oh, no and daryl hannah, we are not going to provide an example of yoko's singing. we have dagen here we must can doing something right? >> absolutely. when you have opec mad at you because you are not using enough oil and hollywood mad at you because you are oil, period and producing it it's a perfect world. >> neil: very well put. >> you know what, you only need to talk to the people of north dakota. lowest unemployment rate in the entire country, 3.2%. that is one of the biggest destinations for americans as they are moving around the country. it's because of the shale oil. we end up -- you know what. >> you know what the pizza
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tastes like? >> in north dakota? >> i love north dakota. >> neil says its beautiful state. >> i lived there for a year and a half. >> you are urban. >> it's wonderful. >> listen, this whole thing, these people are nuts. >> neil: who is nuts? >> opec. >> neil: daryl hannah is. no one has looked at splash, hello. >> we saw it this week, in a report and retail sales report, imagine if we could unlock all the energy we have here. that is one of the things that is holding us back. >> neil: is that one of the reasons that opec's numbers are down? >> of course the president as jay carney said this week, this green initiative is much more important than anyone watching the show having lower energy
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bills. this is what hollywood is saying. >> this is right for adam and his buddies let them eat cake moment. >> neil: there is no an eliteist bone -- you would never go to north dakota. >> i'm going to tell you this. we have in new york state, we should be fracking here and putting all these people out of work to work. >> neil: adam, in all seriousness, is there a connect between are going full fracking and opec now screaming? >> there is no question, in the span of a few short years we were very concerned about being dependent on opec to achieving oil independence in the united states. >> neil: what has it done. the president pushed for solar
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and it hasn't panned out. is it turning another eye on fracking, sort of letting that go. let that do its thing? >> no argument. the opening up of the vast north american reserves of national gas has changed the equation. >> it's actually. >> neil: i always wondered what happened. >> when they were like, stretching the skin. >> neil: go ahead. >> this is private business and free market at work because you have private industry that is exploring and producing this oil. then you also have the free market, gasoline prices are very high but that has played into this because we have all begun to adjust. we are driving much more fuel efficient cars in this country and we pulled back demand.
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we will be -- >> not so. >> new truck, six tires and two engines. >> but all of these vehicles are much more fuel efficient. >> the fuel efficiency standards were led by the standards. >> if the president really wants us to take the economy to the next level you do the keystone project. you don't decrease drilling on land owned by the government. you increase it. gas prices are killing people right now. >> from a pure economic standpoint, president obama supports ben bernanke of printing money. when you have interest rates that low, people buy commodities and not allow us to do fracking and everything else possible. >> neil: not enough. >> he is drinking tea with
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what's their name. >> let's get the economy going. >> neil: what if i told you president's healthcare law was going to take a bite out of your next burger. that is what a franchise owner is saying. he is digging in at the bottom of the hour, how this is going to kick in the buns. taking out cash from the atm, you have to watch your back. somebody may be spying from inside that atm. it's not gasparino, guess who it is? ...so you say men are superior drivers? yeah? then how'd i get this... [ voice of dennis ] ...safe driving bonus check? every six months without an accident, allstate sends a check. silence. are you in good hands?
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>>. >> neil: i am so glad you folks weren't here during the break. policing these guys. anyway, the report saying obama administration is letting spy agencies go through the finances a broader effort to go afterhice charles payne. what do you think of that. [ laughter ] >> i can't believe this is the same president that railed against the patriotic act. the ghost of angelo napolitano it goes against everything that america stands for. you need to go through my atm tolerance acts to find out what is going on with the terrorists? it's too much. we have to draw the line in the sand. >> i think the f.b.i. has access to this. its database on suspicious
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financial trance acts. >> neil: so you pop up on someone's radar? >> sure c.i.a. and nsa and let them do what they mean fighting terrorists. frankly. governmental is probably doing it. >> look what happened to elliot spitzer. i feel so bad the attorney general of new york came up with all these ridiculous cases, some good ones. he did money transfers to house of ill repute and was caught infamous client, a prostitute. there is so much they can do already. >> i have no issues of privacy at all. >> there is no problem, why don't we have hearings. >> neil: i think dagen hit the nail on the head. that is the problem we have
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given up any expectation of privacy. if something goes amiss our whole life is an open book. >> well, i don't disagree with charlie. we should have hearings and do it well. if i had to choose between this and water boarding, would choose this in a heartbeat. >> neil: it depends on who is being waterboarded. >> you are saying what, all of a sudden that would compel you to what? >> i'm saying that one violates our principles and the other is prudent law enforcement as long as it is done well. >> neil: you used to rip the bush administration for going beyond the bounds of propriety and military reasons for getting into our privacy. isn't that the same thing? >> no, i'm with dagen on this. i don't have huge concerns over
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privacy issues. >> you should. >> privacy is a constitutional act, when we catch a terrorist not bound by the constitution. walls board away. >> neil: i want to thank charlie and dagen. everybody loves an underdog especially during march madness but some cinderella stocks are coming up.
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tv
Cavuto on Business
FOX News March 16, 2013 1:00pm-1:30pm PDT

News/Business. Neil Cavuto and market analysts discuss financial issues and forecasts. (CC)

TOPIC FREQUENCY Opec 5, North Dakota 4, Charlie 4, America 3, Adam 3, Ryan 2, Arthel Nevil 2, Daryl Hannah 2, Europe 2, Dr. Scholl 2, Obama 2, Stephanopolous 1, Gasparino 1, Nancy Pelosi 1, Dennis Rodman 1, Harry Reid 1, George Stephanopolous 1, New York 1, Cpac 1, Marco Rubio 1
Network FOX News
Duration 00:30:00
Scanned in San Francisco, CA, USA
Source Comcast Cable
Tuner Virtual Ch. 760 (FOX NEWS HD)
Video Codec mpeg2video
Audio Cocec ac3
Pixel width 1280
Pixel height 720


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on 3/16/2013
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